In this image released by Columbia Pictures, Will Smith, left, and Charlize Theron are shown in a scene from the film, "Hancock." (AP Photo/Columbia Pictures, Frank Masi) ** NO SALES **

Photo: Frank Masi, Columbia Pictures

In this image released by Columbia Pictures, Will Smith, left, and...

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Will Smith, left plays a disaffected superhero, who becomes the next project of PR exec Ray Embrey (Jason Bateman, in car, right), in Peter Berg's movie "Hancock," opening Wednesday July 2 in Bay Area theaters.
When disgruntled superhero Hancock (Will Smith, left) saves the life of PR exec Ray Embrey (Jason Bateman, in car, right), Ray tries to clean up Hancock's image in Columbia Pictures' Hancock. The film is directed by Peter Berg. The screenplay is by Vy Vincent Ngo and Vince Gilligan. The film is produced by Akiva Goldsman, Michael Mann, Will Smith, and James Lassiter. Hancock is set for release July 2, 2008.

Hancock: Action comedy. Starring Will Smith, Charlize Theron and Jason Bateman. Directed by Peter Berg. (PG-13. 92 minutes. At Bay Area theaters. For complete movie listings and show times, and to buy tickets for select theaters, go to sfgate.com/movies.)

What if a homeless guy sleeping on a bench turned out to be a superhero? "Hancock" is based on that "what if" premise, and screenwriters Vincent Ngo and Vince Gilligan run with it, pursuing and developing it honestly and arriving at some interesting and unexpected places.

Yet as delivered by director Peter Berg, "Hancock" is never as serious or funny or poignant as it could be. And despite clocking in at a reasonable running time, it has a big sag in the middle that nothing could have fixed. "Hancock" is more intelligent than most summer blockbusters and features at its center a thought-out and committed performance by Will Smith. But in the end it's merely almost good. It takes place in the Los Angeles of the near future (about three years from now), in which Hancock (Smith) is a well-known superhero with an alcohol problem. Smith plays him as a homeless drunk, glazing over his self-disgust with liquor and hiding what awareness he has left under a veneer of impassivity. It's a nice thing about Smith's performance: He lets the comedy come from the context, but he plays it straight. The actor has clearly made a point of observing guys on park benches.

Every superhero has powers and limitations, from the low end (Batman) to the high end (Superman). Hancock is on the high end of the scale. There's nothing he can't do, but because he's drunk and apathetic, he's sloppy about it. The public loathes him, because every time he does something good, he ends up ripping apart roads and demolishing buildings.

Bad summer blockbusters establish a premise and then repeat the same actions for 20 or 30 minutes, but "Hancock" is generous when it comes to story. When our hero happens to rescue an idealistic public relations man (Jason Bateman) from a speeding train, the man volunteers to help rescue Hancock's public image. This event, which in another blockbuster might constitute the middle of the story, is where the movie opens.

"Hancock" is an original creation, not based on a comic book series. It lacks the fable-like quality that comic book adaptations have at their best, but it also lacks the compressed, frenetic, action-packed-nonsense quality of comic book adaptations at their worst. Not limited by what some writer thought up 40 years ago, the filmmakers attempt to break into new territory with "Hancock." They look at the whole superhero thing with fresh eyes, even to the extent of examining - to the degree the blockbuster form permits (not much) - the spiritual implications of such beings walking the earth.

In "Hancock," the word "superheroes" is merely a secular term for what a more religious age called "angels" and the pagans called "gods." Nice idea. But then again, so what, if it all boils down to the same thing - an evenly matched battle between two superheroes, taking place on the city streets? "The Incredible Hulk" had an almost identical scene. So did "Iron Man." That's three already, and this is only the first week in July.

By the way, what is the appeal of watching two titans battle it out on the street, wrecking buildings and ripping up roads? Since it has been a recurring motif throughout the history of superhero and monster movies, there must be some allure to it. Here's what it is: the fantasy of being a bystander and having a built-in, unassailable excuse to take a day off.

Smith has become a good actor over the years. Ten years ago, he was a likable fellow with a knack for the wisecrack, but he's grown into something deeper, and Charlize Theron matches him in several heartfelt scenes. But either due to the overall subject matter or to some missed notes in Berg's direction, the movie feels trivial as an emotional piece and never takes off as an action movie. The special effects are ho-hum, and in the dramatic scenes, the actors seem to be feeling a lot more than the audience. That's never a good sign.